Sansteel MinGuang Fujian to see indirect shareholder change

Fujian Province's state-owned assets are undergoing restructuring, with the Fujian Provincial People's Government State-owned Assets Supervision and Administration Commission (SASAC) transferring its 80% stake in Fujian Metallurgy to Fujian Provincial Industrial Holding Group Co., Ltd. (Fujian Industrial Holding). This transfer will result in Fujian Industrial Holding indirectly owning 58.15% of Sansteel MinGuang (SZSE:002110) and becoming its indirect controlling shareholder. The direct controlling shareholder of Sansteel MinGuang remains Sansteel Group, with the actual controller remaining Fujian Provincial SASAC. This transfer is subject to registration changes. Fujian Industrial Holding will not be issuing a takeover bid as the transfer qualifies for an exemption according to regulations.